We’d like to step out of character for a moment to discuss the elements of retaining top employees. The Creditors that we represent gain competitive advantage in debt collections by keeping their best a brightest. Better Decisions, Better Delivery of goods and services, equate to more satisfied customers and clients, that pay. Better decisions from the Receivables Department, equate to better in-house collections.
Five years ago, the United States experienced the worst recession in decades.
The recession caused a drop in real estate business, crippled business that created goods, and nearly halted tourism. Yet, despite this failing in business, Tampa was still littered with real estate companies, manufacturers, and hotels.
The question quickly became, “How are these companies overcoming the financial downfall and still maintaining their work force?”
Now we see that the economy is slowly becoming healthy again. Profits are coming in and employees are beginning to feel a bit better about their earnings. So the concern for most employers this day is – “How do we keep our best workers?” Many companies will agree that maintaining their best workers is a priority.
Contrary to popular belief – it’s not as simple as handing out more money.
Bay Area Legal Services has a strong strategy. They make sure that every employee has important work to do and in position to do that work effectively through the use of training.
A debt collection firm, Hunter Warfield, employees receive quarterly evaluations and there is communication between superiors, peers, and teammates twice a year. This was beneficial to the organization’s communication and team building.
Understanding generational difference is important also, because every individual is different especially the comparison between those born in the mid 90’s and now the early 90s in the work place. Work, life, and community service can mean more to some employees than just a big pay check. Some prefer recognition and others are just looking for fun in the workplace.
There are many surveys that have been done and the majority point to the positives as being better benefits and the negatives being those ever so dreadful time clocks. It is a dynamic of making the work place fun, supportive, engaging, and productive that makes employees wish to stay.
